Funding arb · Price arb /

ADA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.009%

Price spread now: Coinbase International against BingX−0.040%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.040% cheaper against BingX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ADA-USDC	0.2480	0.0100	pay 0.0100% / 8h	7h 08m	—	$6.6M	—
Short	Coinbase International ADA-PERP-INTX	0.2479	0.0040	get 0.0005% / 1h	8m 54s	$424K	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$12.6
Price spread: −0.040% → 0.000%: −$4.03
Slippage, 4 orders: −$30.69
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$67.32
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from BingX: live order book, 13 min ago; Coinbase International: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 13 min ago	4.05 bp	16.4 bp −$16	27.5 bp −$275	79.9 bp −$7,993	461.9 bp −$230.9K
Sell Coinbase International live order book, 5 min ago	6.04 bp	12.1 bp −$12	20.0 bp −$200	doesn't fit	doesn't fit

ADA on 37 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX ADA-USD	0.0000%	1h	0.2482	+0.085%	$204K	$4K	10x	as long as short
Kalshi KXADAPERP	0.0000%	8h	0.2486	+0.242%	$207K	$6.2M	3.2x	as long as short
gTrade (Gains Network) ADA/USD	L +0.0005% / S −0.0003%	1h	0.2481	+0.040%	$85K	—	150x	as long as short
Injective ADA/USDC PERP	+0.0033%	1h	0.2471	−0.363%	$849	$202K	12x	as long as short
Coinbase International ADA-PERP-INTXshort	+0.0040%	1h	0.2479	−0.040%	$424K	$7.3M	50x
Kraken Futures PF_ADAUSD	+0.0047%	1h	0.2480	+0.008%	$6.3M	$11.8M	50x	as long as short
Phoenix ADA	+0.0098%	1h	0.2484	+0.153%	$4K	$84K	10x	as long as short
Aster ADAUSDT	+0.0100%	8h	0.2481	+0.053%	$1.2M	$956K	75x	as long as short
Pacifica ADA	+0.0100%	1h	0.2484	+0.165%	$160K	$150K	10x	as long as short
Binance ADAUSDT	+0.0100%	8h	0.2480	−0.019%	$103.4M	$368.1M	75x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ADAUSDT	+0.0100%	8h	0.2479	−0.040%	$72.8M	$105.2M	75x	as long as short
OKX ADA-USDT-SWAP	+0.0100%	8h	0.2479	−0.040%	$32.8M	$107.9M	50x	as long as short
Gate ADA_USDT	+0.0100%	8h	0.2478	−0.081%	$99.0M	$59.9M	75x	as long as short
MEXC ADA_USDT	+0.0100%	8h	0.2478	−0.081%	$54.6M	$52.2M	300x	as long as short
KuCoin ADAUSDTM	+0.0100%	8h	0.2480	−0.012%	$30.4M	$17.8M	75x	as long as short
Bitget ADAUSDT	+0.0100%	8h	0.2480	0.000%	$67.0M	$44.9M	75x	as long as short
BingX ADA-USDClong	+0.0100%	8h	0.2480	long leg	—	$6.6M	—
Backpack ADA_USDC_PERP	+0.0100%	1h	0.2481	+0.040%	$138K	$416K	15x	as long as short
Variational Omni ADA	+0.0100%	8h	0.2477	−0.117%	$4.3M	$967K	—	as long as short
edgeX ADAUSDC	+0.0100%	4h	0.2479	−0.041%	$66K	$281K	20x	as long as short
GRVT ADA_USDT_Perp	+0.0100%	8h	0.2483	+0.120%	$294K	$3.7M	10x	as long as short
ApeX Omni ADAUSDT	+0.0100%	1h	0.2478	−0.081%	$56K	$586K	50x	as long as short
Polymarket Perps ADA-USD	+0.0100%	1h	0.2483	+0.105%	$94K	$650K	10x	as long as short
Orderly PERP_ADA_USDC	+0.0100%	8h	0.2481	+0.040%	$6K	$29K	20x	as long as short
Derive ADA-PERP	+0.0100%	1h	0.2482	+0.089%	$40K	$3K	5x	as long as short
SunX ADA-USDT	+0.0100%	8h	0.2481	+0.041%	$9K	$766K	30x	as long as short
SoDEX ADA-USD	+0.0100%	1h	0.2481	+0.024%	$341	$13K	10x	as long as short
HTX ADA-USDT	+0.0100%	8h	0.2482	+0.075%	$1.3M	$5.6M	75x	as long as short
Phemex ADAUSDT	+0.0100%	8h	0.2481	+0.040%	$48.3M	$6.1M	50x	as long as short
Extended ADA-USD	+0.0104%	1h	0.2479	−0.043%	$540K	$1.8M	50x	as long as short
Paradex ADA-USD-PERP	+0.0105%	8h	0.2485	+0.189%	$21K	$250	20x	as long as short
Lighter ADA	+0.0184%	1h	0.2482	+0.097%	$2.5M	$1.1M	10x	as long as short
BloFin ADA-USDT	+0.0220%	8h	0.2484	+0.161%	$4.5M	$5.7M	75x	as long as short
Deribit ADA_USDC-PERPETUAL	+0.0234%	1h	0.2482	+0.073%	$500K	$451K	50x	as long as short
Hyperliquid ADA	+0.0243%	1h	0.2482	+0.097%	$43.4M	$14.2M	10x	as long as short
Reya ADARUSDPERP	+0.0282%	1h	0.2482	+0.082%	$1K	—	15x	as long as short
GMX ADA/USD [WBTC.b-USDC]	L +0.0630% / S −0.0393%	1h	0.2481	+0.044%	$143K	—	100x	as long as short